Real Talk with Andres & Heather | Home Loans Made Simple: Top Four Tips for 2025!

[00:00:04] Speaker A: Hey, Heather. We are live again here at Real Talk with Heather and andres today, Tuesday, July 8th. How's it going, Heather? [00:00:15] Speaker B: Hey, Andre is pretty good. Pretty good. Nice day here in Georgia, so can't ask for much more than that. How are you guys doing? [00:00:23] Speaker A: I'm doing amazing. Can't complain. And today we have a special guest with us, we have Miriam Russes out of Morris Free Borough in Tennessee with Southwest funding. So pleasure to have you on board, Miriam. Happy you took the opportunity. Happy you are joining us here today. So very grateful for that. [00:00:45] Speaker C: Thank you. Thank you. I'm grateful and happy as well to. To be part of this. Thank you so much to you and Heather for the invite. [00:00:52] Speaker A: Awesome, awesome. So, Heather, so where are we live today again? [00:00:59] Speaker B: So today we are live streaming. We are live on Facebook, Instagram, TikTok, Twitch and YouTube. So if you follow me, Andres, both of us go to our channels and if you guys aren't following, click the QR code or scan the QR code on the screen and you can register to become part of the Heavenly Clouds community and also be notified when our podcasts are coming up and when we're going to be live streaming. So you never miss out on any of the information that we're giving to all of our agents, buyers and sellers. [00:01:30] Speaker A: Awesome, awesome. Outstanding. And yes, please be on the lookout for a new schedule coming out. I know we asked Miriam last minute to join us here today and we were not properly advertised or promote that they fend here today, but today we're going to focus on a particular area of the business and then just kind of join us on different segments down the road over the next month or so. So again, please be on the lookout for the schedule coming up later this week so that we can see the guys that are coming out. The topics that we're going to be going over on Tuesdays and Thursdays and, and diving into a specific areas of the business and more so that we can help you guys and just have an open mic, have a good conversation about it. [00:02:19] Speaker B: Well, let's find out a little more about the relationship that you guys have and how you guys met and all of those details. [00:02:27] Speaker A: It's funny you asked because it was interesting. I saw, I met Miriam through a post on Facebook at Waltons. Right. Social media is a great thing and she's a bilingual loan officer out of Tennessee, was looking for an agent here in the Alabama market. And we'll get connected through there and we haven't closed the deal. We have not closed the deal yet. Yeah, that particular client did not find out right away. Something for a future down the road, but something that, that really sparked my attention for mirrors her tenacity in the way she does business. Right. The way she goes out of above and beyond to help her clients. The, her communication, staying on top of every little details and mind, you just got to see her working with other lenders, with other clients, other agents. And for the little time that we worked together on a deal, she was on it from the moment we got connected. And that impresses me a lot because something that, that's very important in this business is communication. Right. You want to stay on top of every aspect of the transaction as well as detailed as possible. It's, it's important. I'm a former army veteran and it's attention to the details and that's something that I picked up from Miriam right away. She's on top of everything along the way. And, and from that point on I thought we could build a good relationship as friends. And, and that has been the case since, right, Miriam? [00:04:04] Speaker C: Yes, it has. It has. I'm so glad, you know, you answered the post and believe it or not, we had reached out to a couple agents and nobody, you know, that had a comment on that post and nobody answered the phone. You were the first one to actually answer the phone. So thank you as well for that. And we were also impressed and you know, the way you treated the customers and the way you are with your customers and your willingness to help. Right. It's, it impresses me as well. So I'm glad we're friends. His wife is actually my processor now, so. And I'm, I'm so grateful for, for Ellie. I always tell her all the time, if you ever leave, I'm gonna cry because she is so helpful. So I'm just blessed to have met Andres and, and his wife. [00:04:53] Speaker A: It's, it's interesting how, how things happen. Sometimes a transaction doesn't plan out. Right. But much bigger things happen in the process. But it's, it's the opportunities that come across that may open the door for other great opportunities that at the moment we're not even thinking about. And this is one of those cases that that particular deal didn't plan out, but it, it opened the door for a great relationship, great friendship and, and a long term relationships. [00:05:25] Speaker B: Everything happens for a reason. [00:05:28] Speaker A: I'm a firm believer on that, trust me. [00:05:31] Speaker C: Yes. And now I feel like we're family. You know, I don't even. Yeah. Like, I feel like we're family and, and I love that about the business that you get to make those long lasting relationships whether it is with your customers, with realtors or even like other lender partners as well. So I, I love that about this business. [00:05:50] Speaker A: Absolutely. I think it's, it's one of the primary things some people focus on, the transaction based part of it but something I capture from, from the people around me, the mentors and the leaders that I've been introduced to in this industry. It is, it's a relationship business first and foremost. You want to be alone in lifelong relationships and, and when you do that, you're serving, you're doing right by the clients, you're doing right by those around you and everything else falls in line and takes care of itself. [00:06:23] Speaker B: That's one thing that I tell especially new agents too is you want to make sure you work with a trusted lender. Somebody that you know is going to be there to look out for your clients best interests. Somebody that's going to be there, you know, answer the call. If you're working with a client and they come with, you know, their own lender, they come with a big bank corporation and you're trying to get information about the loan, a lot of times you have to, you know, dial the 1, 800 number and then you have to hit 4 and then 3 and then 2. And then if you actually get somebody on the phone, they just say they'll call you back with the information. Then you never get a call back. But when you work with a lender that you have a relationship with, you can shoot them a text message and you know, you have faith that that answered and it just makes you as an agent look more professional to your client. [00:07:10] Speaker A: Absolutely. And, and to dive into the specific of the topic today, home Loans Made simple. You know, we want to discuss some of the top four tips here in 2025 we can dive into. The number one question that we have for you Miriam is what are some of, some of the biggest misconception buyers have when it comes to getting approved for mortgage? [00:07:34] Speaker C: And that's a wonderful question Andres. I'm glad you asked because you know I love educating people and from my, I've been in the business for five years and what I have noticed is currently customers have, there's a lot of misconceptions about what you need to get pre approved for a mortgage. The biggest one is people think that you need perfect credit to be able to buy a house. Right. A lot of times I talk to people and they're like oh no, I don't think I'll get approved because my credit is bad. And I'm like, well, what, when you say bad, right, what's, what's bad to you? And oh no, I think I'm like in the 600s. And you actually need a 580 to be able to purchase a home. So whether it is with FHA, even VA loans, we can go down to 580. So you don't need perfect credit. Obviously, the higher the credit, the more options that will be there for you. But you can buy a home with a 580 credit score and a lot of people don't know that. [00:08:33] Speaker B: Now if somebody is wanting to find out their credit score, they don't know their credit score. There's place they can go to online, but if they reach out to you or, you know, if they're not, you know, and, and just remind everybody for listeners, what states are you currently licensed and that you can do loans for? [00:08:51] Speaker C: So I'm in Tennessee, but I'm licensed in Georgia, Florida, Alabama, Kentucky, Indiana, Ohio, South Carolina, Texas. I feel like I'm missing Georgia and I might be missing a few others, but I can help in different states. [00:09:18] Speaker B: Gotcha, girl. We're going to need a list. That was a lot. [00:09:21] Speaker C: I'll send you guys the list. And now as far as credit, Heather, we can do soft pools. [00:09:27] Speaker B: Okay? [00:09:28] Speaker C: So we can actually, I can do your application, do a soft pull, and based on that, I'll be able to tell you, hey, you're ready or no, you're not ready, but you need to do A, B and C to be ready, right? Or sometimes, believe it or not, I have told customers, hey, you need to open some credit cards or a lot of times this, you got to pay down credit cards. But everybody's situation is different. So it's always, you know, let me do an application, let's do a softball and let's go from there. [00:09:58] Speaker A: And I see here, do they, do they always need a 20% down payment to buy a home? [00:10:03] Speaker C: No, no. And that's another misconception. So a lot of people think that they need a large down payment. And you, you actually don't. We have in house programs that allow you to buy a home with 0% down. There's also for our veterans, VA loans also come with 0% down. Conventional, if it's your first time buying the home and it's your primary residence, goes down to 3%. FHA will also take 3.5. So you do not need a, you know, a large down payment to be able to Buy a house. So that's another one where a lot of people are like, well, I'm not ready because I heard I need 40,000 in the bank. And I'm like, well, I mean, you know, reserves are good, but you don't need all that, you know. So once I get it pre approved, they're like, oh, I didn't, I was ready a long time ago, you know, and here I am trying to save 40, $50,000. So that's, that's another misconception. Now again, it's just talking to a lender and let's see what we, we qualify for, right? What each person qualifies for another misconception that there is out there is having car loans. Right? It's, it's bad. I talk to a lot of customers and they'll say, well, I can't, I can't buy a house right now because I'm paying a car. And that's not necessarily true if, even though car debt does add to your debt to income ratio, but it's just if you make enough to cover that payment, the car payment that you have and be able to cover a home, you can buy a house. It's not necessarily that, oh, I have a car loan and I was told that I don't, you know, that you can't buy a home because you have car debt. That's, that's not true at all. [00:11:40] Speaker A: So what I, what I've seen people do is purchase a car right before they start buying a home. [00:11:48] Speaker C: Now don't do that. [00:11:51] Speaker A: I, I've seen that many times. Like, let's set up the priorities first, right? And then, and then by the car. So, so I've seen that happen. What do you say on that? [00:12:04] Speaker C: Oh, yeah, no, it's, it happens a lot, right. It's just again, it's having the relationship with your lender where it's like, okay, do the soft pool and they have a, have a game plan. But if you already have debt, you know, it doesn't necessarily mean that you're automatically disqualified from buying a house. Again, if your debt to income ratio, what you make gives enough to cover though, you know your debts and be able to buy a home, you're, you know, you're, you're good to go there. [00:12:31] Speaker A: Awesome, awesome. That's great advice there. [00:12:35] Speaker B: Oh, sorry Andres. [00:12:36] Speaker A: Go ahead, go ahead. [00:12:38] Speaker B: I was going to say, can you get into kind of breaking down for us? The myth of the down payment is the only thing you need up front when you're buying a home. Can you Talk about that for us. [00:12:50] Speaker C: Yes, yes, yes, yes. So, yes, a lot of people think, oh, I just need my down payment, and that's it. And that's not true. There's also closing costs that come with buying a home. And closing costs are going to include pretty much like the escrow, the taxes, the transfer taxes, what title companies charge through the loan. However, there's also appraisal that has to come out of pocket for the borrower and inspections. So those are other, you know, expenses that nobody talks about but you, you do. Now, as we know right now, it's, it is a, it's becoming a buyer's market. And a lot of times some of the agents are able to get half of the closing cost, if not all of it, just depending on the situation. But I always tell customers, just go ahead and, and have the money to the side, have the money for appraisal, have the money for inspections. Right. And if you don't use it, you don't use it. But I always say it's better to have it and not need it than to need it and not have it. [00:13:49] Speaker B: Exactly. I'm licensed in Georgia as a real estate agent. And here in Georgia, for your appraisal and then for your inspection, I always tell my buyers, you know, you're going to want to allow, you know, 3 to 600 for your appraisal and the same thing with your inspection, it could be, you know, the price can vary. So I just say have about 1,000 doll, you know, in your mind right away that's going to be going to those things. When you're dealing in Alabama, is it pretty much the same there, Andres, as far as label intersection? [00:14:20] Speaker A: Yeah, it is. It's, it's something that I always encourage buyers, whether it's part of the system or requirements, I always tell buyers, look, we want to take the steps, want to make sure we cover inspections, appraisals. This is what's going to happen. Guide them through every step of the way. Let her know these are the expected expenses on that. And once we're negotiating the price, I can recover some of that expenses for you. So that way it's a win, win situation. But at least an inspection is something that I, that I always encourage to make it happen, because you never know, you never know what could be underneath that, underneath the, the surface there. And, and we want to have a professional be able to take a look into that. Right. But as far as the expenses go, I can give them a detailed list of everything that we can expect, like to communicate well, expect, expect the closing cost and then we can go into the negotiation and try to recover some of that. Because you have to negotiate in there for both ends, Right. Everybody has to come to a common ground and it's a win, win situation. That's how the deals get done. [00:15:36] Speaker B: And it's an emotional process. I think, you know, we, we do it on a daily basis and it, we have to keep in mind that for our clients, you know, the sellers, they're selling a home that, you know, most of the time they love, they raise a family in, you know, this means something to them. And buyers are very emotionally invested too, because they're going through the process of buying that home. So. So there's a lot of emotions that come into play when you're in the home buying process. [00:16:01] Speaker A: Absolutely. It's a beautiful thing, right? [00:16:06] Speaker C: It is. If you have the right people in your corner. It's definitely. It's a lot, right? A lot of all at once. Like I tell customers, and I always encourage them, ask as many questions as you, you have, because I always say, it might be the 100 transaction for me, but for them it's the first time that they're buying a house. So you have to keep that in mind as professionals as well. [00:16:34] Speaker B: And when we're trying to guide those buyers through that journey, they found the house, we put in an offer, got accepted, so we're starting that process. And as the lender, what are some things that you would advise agents and buyers, so agents to tell their buyers and then buyers as well, what are things that buyers should know to avoid doing when they're in the process of buying a home and they're in the process of getting that loan. [00:17:02] Speaker C: So I always say this, this part right here should be like the Ten Commandments, right, of what not to do when you're buying a house. And the first one would be, don't let anybody run your credit once you're under contract. They still don't. Don't let anybody, like, don't shop for credit cards, don't shop for loans, even furniture. Don't go out there and run your credit. Start buying furniture. Just sit still. So that's one of the biggest ones that I see. Customers get excited and then they go out and they buy furniture. And once you go into underwriting, then they'll say, well, hey, look, it looks like, you know, rooms to go render credit. Find out if they open a new credit card, and if so, we need the statement. And a lot of times that can kill your deal. Just running or it could lower your credit. And then now you don't qualify for the program that you were qualified for. So that would be one of the things. Don't let anybody run your credit. And if you have to talk to your lender, make sure that you know it's not going to affect your loan process. So that would be one, the second one that I see a lot is don't quit your job. It's happened to me, believe it or not, where the person just quits their job and they're like, oh, it's because I thought I was already, you know, approved for the loan. And a pre approval and an approval are two different things. So I always tell them if anything's going to change, you have to let me know within 24 hours, you know, if you're going to, if you got laid off or if you have to quit your job for some reason, you have to let me know within 24 hours of you doing it. So that will be the second thing. Another thing that I see a lot as well is don't stop working your hours, right? So if we pre approved you with 40 hours a week at $20, don't, don't take time off, don't start working 35 hours. Because throughout the process we also have to do a final verification of employment and then we have to update your verification of employment. So if there's discrepancies we have to adjust those hours, right? So because we can't give you cred for something that you haven't worked. So that's another big one right there that they'll stop working or they'll say, oh well I, you know, I was pre approved so I took some vacation to get ready to get ready to start moving and stuff like that. And I'm like, oh man, I wish you would have taken the vacation after the fact. Right? So that would be, and I always tell people if you absolutely have to take time off, you have to notify your lender, like hey, I'm planning on doing this, right? Is it going to affect my, is it going to affect my loan or not? So that will be like some of the biggest ones that I've seen. Another thing, don't co sign for anybody. Don't. While you're in the process of buying a loan, you cannot co sign for anybody. You can't consent for any loans because even though you're a cosigner that that debt, it's still going to come out on your credit and you still have to add it as a debt. And a lot of people don't understand that. They'll say, well, Miriam, I just co signed for, for a car. I'm not driving the right. Or I'm not, I'm not paying those payments. But it's like, yeah, well, it's still on your credit. Unfortunately, we still have to add it as a debt. [00:20:21] Speaker A: Yeah. Just like we said earlier, the car thing. Right. People start buying the house, start the process, and they think that just starting the process and being on the contract, oh, now they can go off and buy anything that they want. And that's this and that, that's not the case. And, and I think seeing the loan officer as a trusted advisor plays a huge role into that because they can pick up the phone and call and say, hey, call Miriam. Let me ask for advice. What do you think I should do in this situation? You need to be able to trust your advisor, your, your lender partner, your lo. To be able to pick up the phone and have that conversation and be transparent in the process. Because like you said, it could kill the deal. [00:21:04] Speaker C: Yes, yes. And I always tell, I always tell my families like, we're here to help you. Right. My job as well as your realtor's job is to help you get to the closing table. But you have to help me help you. Right. And you have to be upfront. Just tell me the situation. Be honest. We're all humans. I'll do my best to try to help you or help you navigate around the situation. Right. Because life happens. It is what it is. But people think, oh, if I don't say anything, it's nobody's going to find out. And that's not true. Those underwriters, they have systems where they're constantly monitoring your credit to see if you ran your credit. And like I said, ten days before your loan closes, we have to do a final verification of employment. So it's a verbal one. We have to call over there and just say, hey, Andres still works there. Yes. Okay, perfect. We send it over to the underwriter for, for us to be able to fund the loan. So it's a lot of things to keep in mind is just a pre approval and an approval are two different things. Pre approval is, you know, when we pre approve it based on your situation right now. And approval is once you go through underwriting and they have reviewed and verified everything that we submitted on the front end. [00:22:19] Speaker A: We need to hear that clear to close. [00:22:23] Speaker C: What was that, Heather? [00:22:24] Speaker B: Oh, I said, so don't open that line of credit at rooms to go. [00:22:28] Speaker C: Don't do it, Andres. It's happened to us. Don't do it. [00:22:32] Speaker A: Oh, I know, I know. [00:22:33] Speaker C: And I'm pretty sure, Heather, if it's happened to you as well, don't do it. Hold still until your loan funds. I always tell them once you have those keys and I text you, your loan has funded. Congratulations. Don't buy the car, don't buy the furniture. [00:22:49] Speaker A: I tell them once I give you the. Once you get the kids a clothes, then you can go. I'll drive you to the furniture store. Let's go. I can go look at them with you, but before then, just hold up. Let's get the keys beforehand, right? [00:23:03] Speaker C: Yes. [00:23:06] Speaker B: Clients that you know, unfortunately, even though you know, you tell them, the lender tells them still sometimes, and sometimes situations just are avoidable. I had a client one time who left the country and so like stopped working, left the country in the middle of it. We couldn't even find them. So it's, it's definitely. There's no two deals that are ever the same in real estate. [00:23:30] Speaker C: No, no. I feel like I learned something new each transaction that I do. I swear, it's. And I love that about the business. I love. It's something new every transaction. [00:23:42] Speaker A: So absolutely. I can definitely see that it's every client, every, every experience that we're providing those clients. This is an experience in itself, right. Especially for first time home buyers. It's a whole different drive, a adrenaline coming through, just going through that process and getting their keys and getting that look in their eyes once they get their keys and sign up the documents. It's. That's why I love this business. That's what I try for. But Miriam, what's one piece of advice you give every buyer, regardless of the budget or experience level? [00:24:22] Speaker C: So my biggest piece of advice is going to be talk to a lender such as myself. Right. And the reason why I say that is because we just finished talking about how every customer is different, how every transaction we learn something new. So it's talking to them that way. You know where you stand. You can do a soft credit pool even if you're not buying. I have a customer that I met at the World Summit seminar that I did last, last week. And he approached me and he said, hey, listen, I'm not buying until November. You know, my lease is not up until November. So, you know, but I don't. What do you, what do you suggest? So I told him, hey, let's go ahead and look at your situation. And sure enough, there's just some Little things that he needs to work on to be ready by November. He said, I'm so glad I did this because if I would have waited until November, I would have to renew my lease for another six months. So it's building the relationship with your lender. See, your situation, us doing a soft credit pool, it's going to allow me to give you an idea of how much you qualify for, what your down payment would be, what your closing costs would be. And that way you have time to start getting ready. Or if you tell me, well, I want to qualify for this specific program, then I'll be able to tell you, hey, do A, B and C in order for you to be able to qualify for that program. So it's. And then like how we were talking right now, having that lender that you can call them and tell them, hey, I'm thinking about starting my own business. What do you think? Like, can I leave my W2 job to start my own business? Right? And the answer is no, don't do it. But it's like they'll give you that. It'll give you that, you know, you have somebody that you can trust that you can rely on or you can tell them, like, hey, you know, they come my hours at work. Is that going to affect me in November when I, you know, when I want to start looking? So I always recommend you're thinking about buying, talk to a lender such as myself, it doesn't cost you anything. It's going to give you the, you know, the power to see where you stand and you might be ready. A lot of people are ready and they don't even, they don't even know it and just got to do a couple things or it's going to be able to tell you, like, hey, as far as income, I need a co signer, right? Or I need this, or no, I'm not ready. I need to keep waiting. But don't ever feel like, oh, it's a year I want to buy from a year from now. I shouldn't start checking. I just closed a loan with the customer. He was with me since August of 2023 and we went step by step by step until he got the keys to his house. So I'm here, I'm here to walk with you every way of the way. You know, Andres, Heather, they're here as well. So don't. If you're thinking about it, just reach out to us, let us help you in the sense because you might be ready or you'll know what you need to do to be ready. [00:27:13] Speaker A: I think that's a big step that gets put in the back burner by a lot of clients is I want to buy at the end of the year. Let me start reaching out to an agent, to a loan officer in November if I want to buy something in December. And next thing you know, like you said, oh, they don't, they're not ready yet. They don't prequote, they don't qualify for the amount that they need. And there goes having to extend the lease and start the process over just because I'm not being able to connect with, with loan officers and have the guidance and plan in place that will help them get to where they need to. And I think more of that needs to happen in order for, for that to know only the transaction be, to be smoother, but to put people in the right place, right. To be able to help them put everything in the right place and, and have some guidance moving forward. Because not only does it help you on the real estate aspect, but it will help you get organized in other areas of your life that, that, that is forcing you to look a little bit deeper into correct. [00:28:20] Speaker C: And I always, I feel like talking to a lender will force you to start a budget because now, you know, oh, this is how much I will need for, you know, for closing costs. This is how much I'm going to need for down payment. Right. And again, I always tell them it's, you know, there's a possibility that your realtor will be able to get your closing costs, but it's not, it's not a guarantee because it's up to the seller at the end of the day. Right. And it never fails. Where I had customers, they've been, they find a house that they love, but the house just came in the market, you know, a day ago. And of course they're not offering closing costs. You know, it's, it just came on the market. So it's always better to have that money and customers are like, oh, I'm so glad I listened to you and I saved that money because this is, this is my dream home and this is what, what we want. So it's just having somebody to, to guide you. [00:29:08] Speaker A: Absolutely. [00:29:09] Speaker B: Pro tip to kind of something you said right now, if the house is on the market for age, first the house is on the market. Your client sees it, they love it. But like you said, it went under contract and you know you're not going to get it because you know you closing costs. Call the listing agent, find out how long that due diligence period is. And then set a reminder and you're telling you when that due diligence period is up to call that agent and ask, hey, is it going forward with the loan? Or, you know, are you guys going to get back on the market? Because I cannot tell you how many times I've done that. And we got the house because it didn't go through. But had you're, have you not had something reminding you to follow up on that, it would just go back on the market and you wouldn't even know. Or your client would call you and say, hey, that house is back on the market. And that makes you kind of look dumb and unprofessional because you should have been the one telling them because you knew they loved that house. So just keep that in mind. Just because it's, you know, under contract doesn't mean, unless there's a zero day due diligence period, doesn't mean it's necessarily gone forever. [00:30:11] Speaker A: Yeah, absolutely. One of the key things I like to, with the buyer's consultation, I like to do is let's set up a plan. You know, where are you at today? If we find the perfect home, dream home tomorrow, are you ready to purchase that property? So we want to make sure we go into negotiations and going into putting an offer with everything ready to go. Because like I said, Miriam, if that about the house is on the market and they're not giving any closing cost, are you ready to buy? You know, so want to make sure that we have a plan in place ready to go. So when we start looking at houses, if we find the right home, we're comforting going in that we're going to get the house. [00:30:56] Speaker C: Oh, yeah. And I feel like a lot of customers want to work backwards. They want to start looking at homes and then once they find something that they like, they're calling like, hey, Miriam, I need, I need right now, you know, I need you to stop everything and tell me if I can buy this house. So it's always starting with, start with the lender. Right. And then you go look at houses once you know how much you qualify for and you're ready, I have the money, I can afford that payment. And I think it will make the transaction way smoother. And the odds of you, you know, finding a house and being able to submit an offer way higher than if you have to work backwards. [00:31:34] Speaker A: Absolutely. I feel like they want to go window shopping. Right. With houses, they just want to, oh, let me look at this neighborhood, let me look at this house. Oh, it's nice. I can get one of these. Next thing you know, oh, I can't get into one of those. But yeah, I definitely see that window. Shopping for houses like you're at the mall. [00:31:54] Speaker B: Disappointment Andres. Because then they've looked at this house that you know you're not gonna qualify for, and then nothing's gonna compare to that house, you know, so it's, it's, it is. You gotta make sure you have that pre approval first. [00:32:07] Speaker C: Yes. And, and know your payment. Right? Know your payment up front. I, I think that's so important. It's just knowing your payment up front. That way you, if you're comfortable with that, you know that price point that you're looking and then, then go ahead. But to me, it's like when they go look at houses and then I tell them the payment and they're like, oh, they got to work down a little bit, you know, I feel like that almost discouraged people. So I always tell them, just come to the lender. Let's look at how much you're comfortable spending a month when it comes to your mortgage. And then we work from there. [00:32:39] Speaker A: Yeah, absolutely. [00:32:40] Speaker B: Who are renting? And they're like, you know what? I'm comfortable with my rent payment. I can make it. I'm good. I'm just going to coast on the rest of my life renting. Why is that not necessarily in their best interest? [00:32:54] Speaker C: Oh, man. So renting, we don't know. Rent goes up 30%. Right. And I don't know about Georgia, but here in Tennessee, my goodness. When I moved here in 2017, I, I promise you, you can rent a three bedroom house for $800. And I moved from, from Miami. So to me, that was like cheap. That was like free almost. You know, I was like, what, $800? And now I will tell you that the rent for a three bedroom house, you're probably looking at $2,000 here in Murfreesboro. So rent has gone up tremendously. So if you're planning to stay somewhere, you're going to rent for the rest of your life, the rent payment is going to keep going up every year. Every year. They have to adjust to the market. Right. And no, I don't want to use the word that you're throwing away money, but that's just money that's going nowhere. If you, if you move tomorrow, you can't call your landlord and say, hey, I was here for 20 years. Can I get some of my money back? No, in the contrary, they're going to Keep your, your deposit money. They're going to tell you you were here for 20 years and you destroyed my house. So, you know, here's the bill. So, versus buying, you're working towards your home. And if tomorrow you decide, you know, what I'm gonna sell and I'm gonna retire or I'm, you know, I'm gonna leave it down to my kids, you have that opportunity. You're building equity. You're paying yourself instead of putting your money and paying somebody else's mortgage. So I always tell people, if you can afford the payment, go ahead and buy. But if, if you can, then. Then you can. Right? But if you can afford the payment and you're paying $2,000, 2,500 in. In rent, you should be looking into, Into a mortgage. [00:34:42] Speaker B: You just said it too. You're like, you're paying somebody else's mortgage. You are making a mortgage payment, just not your mortgage payment. You're making somebody else's mortgage payment. [00:34:51] Speaker C: Yes, yes. And investors, you know, they. All they care about is what's my monthly payment? Because they're going to compare it to see how much I'm going to rent the house. And if whatever they're renting the house for, it's going to cover their payment, they're fine. They're like, how quick can you close? Right. Because I got renters waiting for these keys. So I, I always say, just buy, pay your own home. You know, build equity. And then you have, you have a legacy that you can leave to your kids or your grandkids if, if that's what you wanted to do. [00:35:24] Speaker A: Absolutely. And, and the thing is, there's so many people that came here to do that, you know, but the lack of. Of education in the process prevents them from getting there. And I think we want to be able to reach some people and educate them in that process, put them in a position to buy. Right. Because at the end of the day, we want to be able to connect and help families and put everyone in a position where they can succeed. Like I said, if you're already paying the rent, why not pay it for your own self or for your kids down the road? [00:35:59] Speaker C: Absolutely. Andres and I believe, like my branch manager, Cedric, he always says, everybody can buy a mortgage. Everybody. Maybe you can't buy right now. Everybody can buy a house. I'm sorry, but maybe you might not be ready right now, but if we tell you what you need to do, you can be ready. Right. Whether it's six months, whether it is a year, you might have to make Adjustments, you might have to make sacrifices and build a budget, but everybody can buy a home if, if that's what you want. So again, there's no cost to a lender. And so that way we can set up a game plan for you. [00:36:34] Speaker A: Absolutely. [00:36:38] Speaker B: So what would you say are some of the biggest challenges in this current market that buyers are facing? [00:36:45] Speaker C: I think everybody thinks we're in Covid rates right now still. I think that's one of the biggest challenges that people see still are, you know, they're waiting for the threes and the twos, kind of like what we had in co. Right. And a lot of people are saying, well, I'm gonna going to wait till the rates drop. So it's been what, four years? Four years, right. And rates haven't dropped to the twos and the threes. And to be honest with you, I don't, I don't think they will drop to the twos and the threes unless something, you know, something really bad like Covid happens again. But I think the biggest challenge is this getting them to understand that, right. That the rates are not in the threes and the twos anymore. But I always tell them it's, again, everything comes to with the payment, right. The interest rate is going to take your payment. That is it. So if you can afford that payment, go ahead and buy every new drop to the twos and the threes. Like during COVID I always tell them I'll be the first one to call you and tell you, hey, let's go ahead and refinance what you owe into a lower payment. But I think that's one of the biggest challenges right now. It's getting them to understand that those rates might not ever come back. Right. And we're just missing on opportunities because we're waiting for something to happen that might not ever happen. And meanwhile, prices are going up, homes are going up in value. So that's, to me, I think that will be one of the biggest challenges. It's getting them to understand that portion of the. [00:38:21] Speaker A: Absolutely. I think you hit the nail right in the head. The misconception that those interest rates are going to drop that far down and so fast it's not. Not going to happen. And, and I've talked to a number of people. I'm waiting for interest to go down. And a few months ago, last year, I'm waiting for the, for the presidential election that came through, nothing happened. So there's always a misconception there that election interest rates are going to drop and buyers are waiting for the perfect opportunity and perfect opportunities. Now is your decision to buy now. Just buy. [00:39:00] Speaker C: Yeah, yeah, buy now. Create your opportunity. Right. Because if you're just, you're sitting down waiting for an opportunity to happen, that's not how life works. We have to create our own opportunities. And again, if you can afford it, go for it. Because if those rates do come down, those investors are going to snatch those houses kind of like they did during COVID Right. So I always tell them, unless you're getting, you're saving a lot of money to be able to offer over asking price and compete with everybody else. If the rates do drop to threes and twos. Again, if you're not in that position, you know, to, to offer over asking price, then buy now and then refinance if the rates do come down. [00:39:42] Speaker A: Absolutely. Well, Marian, I think we cover a lot with. Before getting on board, I know we presented a number of questions for you. We cover a lot of great information today and we plan on having different segments so that we can bring you more tackle different questions, different area of the business. Because it's a lot of information from the lender side of things to be able to dive into one episode and I think we want to make sure people get value and get accurate information from. From doing this. So we're going to split it into different segments and dive into more specific. Into those segments and those questions. So I'm very grateful to have you on board, be able to collaborate and, and dive into some of the specific. Because I know there's people out there that could find this useful useful and, and be able to connect one way or the other with the information that we're putting out there and be able to make, be able to make a move. Right. Because a lot of times people get holed up into place because they don't know what to do or have no sense of direction. So hopefully reviewing the information that we're putting out here, they can get a spark going and, and be able to get something happen. And regardless of the market they're in, the important things is for them to be put themselves in a position to buy and connecting with a lo just like yourself. So again, we're grateful for to have you on board if you can share where people can reach out to you. We're going to put some of that information on our platform so people have access to you. Oh man. Great stuff today. Looking forward for what's ahead and, and continue to collaborate and work together. [00:41:28] Speaker C: Absolutely. Absolutely. And I think that's what it is right it's just empowering the community with knowledge. That way they can be able to become homeowners regardless of their, you know, their financial backgrounds. I always say, when there's a will, there's a way. So we are here to support you guys everywhere, each step of the way. Now I'm on Facebook under Marion Rosas. I'm also on Instagram under Morgan Mortgages for Miriam. And then my cell phone number is 615-761-6797. So you can call me, you can text me, you can message me, whatever is easier for. For them. And again, I do speak Spanish, so there's anybody out there that needs help in. In Spanish, I'm here as well, and. [00:42:17] Speaker B: I'm going to attach all those links. For everybody listening, whether you're joining us live or you're listening to the podcast later, keep in mind, this is live, so it's not, you know, mistakes we make are they're just here because we are human. So all that is going to be attached. If you're watching this live, make sure you guys, like, share, subscribe and follow us on all of our platforms, as well as Marianne and I just want to thank everybody for watching. Thank you, Andre. Thanks, Maryam, for being here. This was really good information. I think, you know, we've helped reach a lot of buyers, renters even. Do you have a application that I can. [00:42:51] Speaker C: Yes, I will send it to you. Yes, ma', am. I'll send it to you. [00:42:55] Speaker A: Awesome. Awesome. And with that said, you mentioned you speak Spanish. Eventually we're going to be putting some of these segments in Spanish only to be able to connect with slow community that need help in Spanish as well. I think it's great information that we can put out there that will help some people. So again, if I speak another language, I will do it in the language as well. So I'm happy to have any other people that speak any language that they want to put some information there. I will be happy to get them on board and go through the process. This is exciting. This is great content and love doing this and I'm excited to continue going and helping our community most of all. [00:43:35] Speaker B: Right, that's perfect. Thank you. Thank you guys for, you know, just. I really enjoy the opportunity just to get to know everybody and help people, help our listeners. And also if you're a home buyer or seller, the situation for you and if you're an agent, scan the QR code so that you can become part of our heads in the clouds community. You get access to a lot of free marketing material that we offer to the agents in our community. [00:44:01] Speaker A: Outstanding. I'll see you guys on Thursday. [00:44:04] Speaker C: Yes. Thank you for having me. Thank you so much. [00:44:08] Speaker B: Bye, guys. [00:44:10] Speaker C: Bye. [00:44:11] Speaker A: Bye.